New Risk • Jun 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥898, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 18x in the Electronic industry in Japan. Total returns to shareholders of 134% over the past three years. Reported Earnings • May 20
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥81.37 (up from JP¥76.26 in FY 2025). Revenue: JP¥93.1b (up 9.1% from FY 2025). Net income: JP¥5.04b (up 5.4% from FY 2025). Profit margin: 5.4% (down from 5.6% in FY 2025). Revenue exceeded analyst estimates by 8.3%. Earnings per share (EPS) also surpassed analyst estimates by 32%. Revenue is forecast to grow 1.0% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • May 15
Kyosan Electric Manufacturing Co., Ltd., Annual General Meeting, Jun 24, 2026 Kyosan Electric Manufacturing Co., Ltd., Annual General Meeting, Jun 24, 2026. Announcement • May 10
Kyosan Electric Manufacturing Co., Ltd. to Report Fiscal Year 2026 Results on May 15, 2026 Kyosan Electric Manufacturing Co., Ltd. announced that they will report fiscal year 2026 results on May 15, 2026 Declared Dividend • Dec 03
First half dividend of JP¥18.00 announced Dividend of JP¥18.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 4.1%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (30% earnings payout ratio) but not adequately covered by cash flows (96% cash payout ratio). The dividend has increased by an average of 8.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Dec 02
Kyosan Electric Manufacturing Co., Ltd. to Report Q3, 2026 Results on Feb 13, 2026 Kyosan Electric Manufacturing Co., Ltd. announced that they will report Q3, 2026 results on Feb 13, 2026 New Risk • Nov 21
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 96% Dividend yield: 4.2% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (6.7% operating cash flow to total debt). Minor Risk Dividend is not well covered by cash flows (96% cash payout ratio). Reported Earnings • Nov 18
Second quarter 2026 earnings released: EPS: JP¥3.30 (vs JP¥8.28 in 2Q 2025) Second quarter 2026 results: EPS: JP¥3.30 (down from JP¥8.28 in 2Q 2025). Revenue: JP¥19.6b (up 19% from 2Q 2025). Net income: JP¥204.0m (down 61% from 2Q 2025). Profit margin: 1.0% (down from 3.2% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 03 December 2025. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Announcement • Sep 12
Kyosan Electric Manufacturing Co., Ltd. to Report Q2, 2026 Results on Nov 14, 2025 Kyosan Electric Manufacturing Co., Ltd. announced that they will report Q2, 2026 results on Nov 14, 2025 Reported Earnings • Aug 09
First quarter 2026 earnings released: JP¥13.03 loss per share (vs JP¥17.79 loss in 1Q 2025) First quarter 2026 results: JP¥13.03 loss per share (improved from JP¥17.79 loss in 1Q 2025). Revenue: JP¥12.3b (up 25% from 1Q 2025). Net loss: JP¥815.0m (loss narrowed 27% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Declared Dividend • Jul 09
Final dividend of JP¥5.00 announced Dividend of JP¥5.00 is the same as last year. Ex-date: 29th September 2025 Payment date: 3rd December 2025 Dividend yield will be 4.6%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (31% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 8.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 19% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 29
Full year 2025 earnings released: EPS: JP¥76.26 (vs JP¥54.75 in FY 2024) Full year 2025 results: EPS: JP¥76.26 (up from JP¥54.75 in FY 2024). Revenue: JP¥85.4b (up 21% from FY 2024). Net income: JP¥4.78b (up 39% from FY 2024). Profit margin: 5.6% (up from 4.9% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Jun 25
Kyosan Electric Manufacturing Co., Ltd. to Report Q1, 2026 Results on Aug 08, 2025 Kyosan Electric Manufacturing Co., Ltd. announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • May 19
Full year 2025 earnings released: EPS: JP¥76.26 (vs JP¥54.75 in FY 2024) Full year 2025 results: EPS: JP¥76.26 (up from JP¥54.75 in FY 2024). Revenue: JP¥85.4b (up 21% from FY 2024). Net income: JP¥4.78b (up 39% from FY 2024). Profit margin: 5.6% (up from 4.9% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • May 15
Kyosan Electric Manufacturing Co., Ltd. (TSE:6742) announces an Equity Buyback for 1,000,000 shares, representing 1.59% for ¥500 million. Kyosan Electric Manufacturing Co., Ltd. (TSE:6742) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, representing 1.59% of its issued share capital (excluding treasury stock), for ¥500 million. The purpose of the program is to allocate them to the performance-linked stock compensation plan for executives and to implement flexible capital policies. The program will run until March 31, 2026. As of March 31, 2025, the company had 62,744,236 shares in issue (excluding treasury stock) and 100,015 shares in treasury. Announcement • May 14
Kyosan Electric Manufacturing Co., Ltd., Annual General Meeting, Jun 25, 2025 Kyosan Electric Manufacturing Co., Ltd., Annual General Meeting, Jun 25, 2025. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥398, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 11x in the Electronic industry in Japan. Total returns to shareholders of 6.4% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 24 June 2025. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.7%). Announcement • Feb 28
Kyosan Electric Manufacturing Co., Ltd. to Report Fiscal Year 2025 Results on May 14, 2025 Kyosan Electric Manufacturing Co., Ltd. announced that they will report fiscal year 2025 results on May 14, 2025 Reported Earnings • Feb 14
Third quarter 2025 earnings released: EPS: JP¥13.94 (vs JP¥7.16 in 3Q 2024) Third quarter 2025 results: EPS: JP¥13.94 (up from JP¥7.16 in 3Q 2024). Revenue: JP¥20.1b (up 35% from 3Q 2024). Net income: JP¥874.0m (up 95% from 3Q 2024). Profit margin: 4.4% (up from 3.0% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Declared Dividend • Dec 04
First half dividend of JP¥15.00 announced Dividend of JP¥15.00 is the same as last year. Ex-date: 28th March 2025 Payment date: 24th June 2025 Dividend yield will be 3.8%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 17% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 23
Kyosan Electric Manufacturing Co., Ltd. to Report Q3, 2025 Results on Feb 12, 2025 Kyosan Electric Manufacturing Co., Ltd. announced that they will report Q3, 2025 results on Feb 12, 2025 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.5%). Announcement • Sep 12
Kyosan Electric Manufacturing Co., Ltd. to Report Q2, 2025 Results on Nov 13, 2024 Kyosan Electric Manufacturing Co., Ltd. announced that they will report Q2, 2025 results on Nov 13, 2024 Reported Earnings • Aug 13
First quarter 2025 earnings released: JP¥17.79 loss per share (vs JP¥20.44 loss in 1Q 2024) First quarter 2025 results: JP¥17.79 loss per share (improved from JP¥20.44 loss in 1Q 2024). Revenue: JP¥9.81b (down 8.4% from 1Q 2024). Net loss: JP¥1.12b (loss narrowed 13% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to JP¥475, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 12x in the Electronic industry in Japan. Total returns to shareholders of 27% over the past three years. New Risk • Aug 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.8% average weekly change). Large one-off items impacting financial results. Declared Dividend • Jul 11
Final dividend of JP¥5.00 announced Dividend of JP¥5.00 is the same as last year. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 2.9%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (66% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 8.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 26
Full year 2024 earnings released: EPS: JP¥54.75 (vs JP¥33.01 in FY 2023) Full year 2024 results: EPS: JP¥54.75 (up from JP¥33.01 in FY 2023). Revenue: JP¥70.5b (down 2.5% from FY 2023). Net income: JP¥3.43b (up 66% from FY 2023). Profit margin: 4.9% (up from 2.9% in FY 2023). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 16
Full year 2024 earnings released: EPS: JP¥54.75 (vs JP¥33.01 in FY 2023) Full year 2024 results: EPS: JP¥54.75 (up from JP¥33.01 in FY 2023). Revenue: JP¥70.5b (down 2.5% from FY 2023). Net income: JP¥3.43b (up 66% from FY 2023). Profit margin: 4.9% (up from 2.9% in FY 2023). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • May 15
Kyosan Electric Manufacturing Co., Ltd., Annual General Meeting, Jun 21, 2024 Kyosan Electric Manufacturing Co., Ltd., Annual General Meeting, Jun 21, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥13.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 66% but the company is not cash flow positive. Trailing yield: 3.3%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.4%). Announcement • Mar 02
Kyosan Electric Manufacturing Co., Ltd. to Report Fiscal Year 2024 Results on May 13, 2024 Kyosan Electric Manufacturing Co., Ltd. announced that they will report fiscal year 2024 results on May 13, 2024 Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥7.16 (vs JP¥17.65 in 3Q 2023) Third quarter 2024 results: EPS: JP¥7.16 (down from JP¥17.65 in 3Q 2023). Revenue: JP¥14.9b (down 23% from 3Q 2023). Net income: JP¥449.0m (down 59% from 3Q 2023). Profit margin: 3.0% (down from 5.7% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Dec 06
Kyosan Electric Manufacturing Co., Ltd. to Report Q3, 2024 Results on Feb 09, 2024 Kyosan Electric Manufacturing Co., Ltd. announced that they will report Q3, 2024 results on Feb 09, 2024 New Risk • Nov 11
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 79% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (4.7% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.1% net profit margin). Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: JP¥8.80 (vs JP¥3.78 loss in 2Q 2023) Second quarter 2024 results: EPS: JP¥8.80 (up from JP¥3.78 loss in 2Q 2023). Revenue: JP¥13.2b (down 13% from 2Q 2023). Net income: JP¥552.0m (up JP¥789.0m from 2Q 2023). Profit margin: 4.2% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥5.00 per share at 3.6% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is a comfortable 55% but the company is not cash flow positive. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.4%). Announcement • Sep 07
Kyosan Electric Manufacturing Co., Ltd. to Report Q2, 2024 Results on Nov 10, 2023 Kyosan Electric Manufacturing Co., Ltd. announced that they will report Q2, 2024 results on Nov 10, 2023 Reported Earnings • Aug 10
First quarter 2024 earnings released: JP¥20.44 loss per share (vs JP¥20.09 loss in 1Q 2023) First quarter 2024 results: JP¥20.44 loss per share (further deteriorated from JP¥20.09 loss in 1Q 2023). Revenue: JP¥10.7b (down 9.2% from 1Q 2023). Net loss: JP¥1.28b (loss widened 1.7% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Jun 11
Kyosan Electric Manufacturing Co., Ltd. to Report Q1, 2024 Results on Aug 09, 2023 Kyosan Electric Manufacturing Co., Ltd. announced that they will report Q1, 2024 results on Aug 09, 2023 Reported Earnings • May 17
Full year 2023 earnings released: EPS: JP¥33.01 (vs JP¥189 in FY 2022) Full year 2023 results: EPS: JP¥33.01 (down from JP¥189 in FY 2022). Revenue: JP¥72.3b (flat on FY 2022). Net income: JP¥2.07b (down 83% from FY 2022). Profit margin: 2.9% (down from 16% in FY 2022). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥13.00 per share at 4.3% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 37% but the company is paying out more than the cash it is generating. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥17.65 (vs JP¥74.17 in 3Q 2022) Third quarter 2023 results: EPS: JP¥17.65 (down from JP¥74.17 in 3Q 2022). Revenue: JP¥19.3b (up 8.0% from 3Q 2022). Net income: JP¥1.11b (down 76% from 3Q 2022). Profit margin: 5.7% (down from 26% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Feb 10
Kyosan Electric Manufacturing Co., Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 2023 Kyosan Electric Manufacturing Co., Ltd. provided consolidated earnings guidance for the fiscal year ending March 2023. For the year, the company expects Sales to be JPY 74,400 million, Operating profit to be JPY 2,000 million, profit attributable to owners of parent to be JPY 1,300 million, Basic earnings per share to be JPY 20.73. Announcement • Nov 27
Kyosan Electric Manufacturing Co., Ltd. to Report Q3, 2023 Results on Feb 10, 2023 Kyosan Electric Manufacturing Co., Ltd. announced that they will report Q3, 2023 results on Feb 10, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: JP¥3.78 loss per share (vs JP¥71.24 profit in 2Q 2022) Second quarter 2023 results: JP¥3.78 loss per share (down from JP¥71.24 profit in 2Q 2022). Revenue: JP¥15.1b (up 15% from 2Q 2022). Net loss: JP¥237.0m (down 105% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Outside Independent Director Hiroyuki Sasa was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Second quarter 2023 earnings released: JP¥3.78 loss per share (vs JP¥71.24 profit in 2Q 2022) Second quarter 2023 results: JP¥3.78 loss per share (down from JP¥71.24 profit in 2Q 2022). Revenue: JP¥15.1b (up 15% from 2Q 2022). Net loss: JP¥237.0m (down 105% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 02 December 2022. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.6%). Reported Earnings • Aug 15
First quarter 2023 earnings released: JP¥20.09 loss per share (vs JP¥2.60 profit in 1Q 2022) First quarter 2023 results: JP¥20.09 loss per share (down from JP¥2.60 profit in 1Q 2022). Revenue: JP¥11.8b (down 1.3% from 1Q 2022). Net loss: JP¥1.26b (down JP¥1.42b from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 19
Full year 2022 earnings released: EPS: JP¥197 (vs JP¥126 loss in FY 2021) Full year 2022 results: EPS: JP¥197 (up from JP¥126 loss in FY 2021). Revenue: JP¥72.9b (up 17% from FY 2021). Net income: JP¥12.3b (up JP¥20.3b from FY 2021). Profit margin: 17% (up from net loss in FY 2021). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent There are 9 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 9 new directors. 2 experienced directors. 1 highly experienced director. 3 independent directors (5 non-independent directors). Senior Managing Executive Officer & Representative Director Toru Onodera is the most experienced director on the board, commencing their role in 2012. Outside Independent Director Hiroyuki Sasa was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 21 June 2022. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.3%). Reported Earnings • Feb 12
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: EPS: JP¥74.17 (up from JP¥3.22 in 3Q 2021). Revenue: JP¥17.9b (up 17% from 3Q 2021). Net income: JP¥4.65b (up JP¥4.45b from 3Q 2021). Profit margin: 26% (up from 1.3% in 3Q 2021). Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) also surpassed analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 16
Second quarter 2022 earnings released: EPS JP¥71.24 (vs JP¥3.24 loss in 2Q 2021) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2022 results: Revenue: JP¥13.2b (down 13% from 2Q 2021). Net income: JP¥4.47b (up JP¥4.67b from 2Q 2021). Profit margin: 34% (up from net loss in 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 02 December 2021. Trailing yield: 3.2%. Within top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.0%). Reported Earnings • Jun 23
Full year 2021 earnings released: JP¥126 loss per share (vs JP¥31.48 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: JP¥62.2b (down 14% from FY 2020). Net loss: JP¥7.92b (down JP¥9.90b from profit in FY 2020). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Reported Earnings • May 16
Full year 2021 earnings released: JP¥126 loss per share (vs JP¥31.48 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: JP¥62.2b (down 14% from FY 2020). Net loss: JP¥7.92b (down JP¥9.90b from profit in FY 2020). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 22 June 2021. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.1%). Announcement • Mar 11
Kyosan Electric Manufacturing Co., Ltd. to Report Fiscal Year 2021 Results on May 13, 2021 Kyosan Electric Manufacturing Co., Ltd. announced that they will report fiscal year 2021 results on May 13, 2021 Reported Earnings • Feb 28
Third quarter 2021 earnings released: EPS JP¥3.22 (vs JP¥6.92 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥15.3b (down 2.0% from 3Q 2020). Net income: JP¥202.0m (down 54% from 3Q 2020). Profit margin: 1.3% (down from 2.8% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 18% per year. Analyst Estimate Surprise Post Earnings • Feb 28
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 7.7%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Over the next year, revenue is expected to shrink by 9.0% compared to a 9.4% growth forecast for the Electronic industry in Japan. Is New 90 Day High Low • Dec 22
New 90-day low: JP¥407 The company is down 17% from its price of JP¥488 on 23 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 18% over the same period. Announcement • Nov 29
Kyosan Electric Manufacturing Co., Ltd. to Report Q3, 2021 Results on Feb 10, 2021 Kyosan Electric Manufacturing Co., Ltd. announced that they will report Q3, 2021 results on Feb 10, 2021 Announcement • Sep 03
Kyosan Electric Manufacturing Co., Ltd. to Report Q2, 2021 Results on Nov 13, 2020 Kyosan Electric Manufacturing Co., Ltd. announced that they will report Q2, 2021 results on Nov 13, 2020 Announcement • Jun 29
Kyosan Electric Manufacturing Co., Ltd. to Report Q1, 2021 Results on Aug 14, 2020 Kyosan Electric Manufacturing Co., Ltd. announced that they will report Q1, 2021 results on Aug 14, 2020